Scully Royalty (NYSE:SRL) Share Price Passes Below 50 Day Moving Average – What’s Next?

Scully Royalty Ltd. (NYSE:SRL) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.82 and traded as low as $4.94. Scully Royalty shares last traded at $5.0250, with a volume of 6,471 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Scully Royalty from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Scully Royalty has a consensus rating of “Sell”.

Scully Royalty Stock Performance

The business has a fifty day moving average of $5.80 and a two-hundred day moving average of $7.21.

Hedge Funds Weigh In On Scully Royalty

A hedge fund recently bought a new stake in Scully Royalty stock. Barclays PLC acquired a new stake in Scully Royalty Ltd. (NYSE:SRL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,100 shares of the financial services provider’s stock, valued at approximately $249,000. Barclays PLC owned 0.20% of Scully Royalty at the end of the most recent reporting period. Institutional investors and hedge funds own 41.96% of the company’s stock.

Scully Royalty Company Profile

Scully Royalty Ltd. is a mineral royalty company that acquires, owns and manages a diversified portfolio of oil and gas royalty and overriding royalty interests in key onshore producing regions of the United States. As a royalty owner, the company receives a percentage of production revenue from its assets without assuming the operational and capital expenditure burdens associated with exploration and development.

The company’s portfolio spans multiple established hydrocarbon basins, including conventional and unconventional plays.